National Assembly Chairman Vuong Dinh Hue asked Bulgaria to facilitate the entry of Vietnamese consumer goods and agricultural products into Bulgaria and Vietnam is ready to open its doors to Bulgarian goods.
National Assembly Chairman Vuong Dinh Hue speaks at the Policy and Law Forum on Promoting Vietnam - Bulgaria Bilateral Cooperation. Photo: VNA
On the afternoon of September 25, local time, in Sofia, Bulgaria, National Assembly Chairman Vuong Dinh Hue attended the Policy and Law Forum on Promoting Vietnam - Bulgaria Bilateral Cooperation, according to VNA. Speaking at the forum, National Assembly Chairman Vuong Dinh Hue said that economic - trade - investment cooperation holds an important position in the Vietnam - Bulgaria relationship. Important cooperation mechanisms and legal frameworks such as the Intergovernmental Committee on Economic - Trade and Scientific - Technological Cooperation; the Free Trade Agreement between the EU and Vietnam (EVFTA), of which Bulgaria is a member; the Double Taxation Avoidance Agreement; the Investment Promotion and Protection Agreement... are important foundations contributing to promoting the development of bilateral relations between the two countries in the spirit of mutual benefit and complementarity. Assessing that the import-export turnover between the two countries is still very modest compared to the potential, National Assembly Chairman Vuong Dinh Hue stated that in meetings with Bulgarian leaders, they all agreed to soon hold the 24th Session of the Vietnam - Bulgaria Intergovernmental Committee on Economic, Trade and Scientific Cooperation in October to promote bilateral economic and trade cooperation. National Assembly Chairman Vuong Dinh Hue especially welcomed and highly appreciated the recent ratification of the Vietnam - EU Investment Protection Agreement (EVIPA) with absolute consensus. The National Assembly Chairman emphasized: "This is an important step towards the Agreement coming into effect, creating a basis for strengthening Vietnam's investment relations with EU countries, including Bulgaria." National Assembly Chairman Vuong Dinh Hue suggested that Bulgaria facilitate the entry of Vietnamese consumer goods and agricultural products such as tea, coffee, seafood, vegetables, tropical fruits, textiles, footwear, and handicrafts into Bulgaria, and that Vietnam is ready to open its doors to Bulgarian goods such as wheat, vegetable oil, rose oil, dried fruits, wine, etc. The National Assembly Chairman suggested that Bulgaria urge the European Commission (EC) to soon remove the "yellow card" (IUU) warning for Vietnamese seafood products, mobilize other countries to soon ratify EVIPA, and coordinate the implementation of EVFTA. Regarding investment, National Assembly Chairman Vuong Dinh Hue stated that the two countries have potential and advantages to complement each other, however, investment between the two countries is not commensurate with the potential. Currently, there are only about 15 Bulgarian investment projects in Vietnam with a very modest capital of about 30 million USD out of a total of about 450 billion USD of foreign investment attraction in Vietnam. Therefore, the National Assembly Chairman suggested that the two sides need to effectively implement cooperation mechanisms, focusing on encouraging investment between the two countries. Vietnam welcomes Bulgarian enterprises to invest in areas where Vietnam has demand and Bulgaria has strengths such as: Energy, construction of transport infrastructure, information technology, biotechnology in preserving and processing vegetables, fruits, food; pharmaceuticals, environmental protection...; create conditions for businesses of both sides to exchange, contact, seek investment opportunities; support the implementation of projects that are operating effectively. The National Assembly Chairman emphasized: "In my discussions with Bulgarian leaders, we all suggested that businesses of the two countries should establish joint venture models to invest in each other's markets or invest in third markets". He said that Vietnam aims to attract investment selectively, prioritizing industries and fields such as: High technology, foundation industry, supporting industry, electronic components, electric cars, electric batteries...; science and technology, innovation, research and development; green economy, digital economy, circular economy..., National Assembly Chairman Vuong Dinh Hue suggested that the two sides study the possibilities and exchange cooperation opportunities in the above fields to promote investment cooperation in an appropriate and effective manner.Laodong.vn
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